Drones, social media, virtual reality and artificial intelligence are shattering the way industries conduct their business; real estate is no exception. The traditional inefficient design and wasteful consumption of energy and water are being phased-out with innovative implementations of AI and machine learning.
Real estate sector has been slow to adapt to 21st century tech. Proprietary technologies are closing the gap with “smart” devices. These instruments connect various appliances and systems to the internet, monitor behavior and usage, and can analyze that behavior to adjust expenditure efficiently. Predictive behavior is no longer exclusive to cutting-edge manufacturing and data science; it has literally come home.
Through an “Internet of Things” approach, sensors attached to piping can detect leaks, and provide home owners and property management with a remote shut-off option, saving thousands of dollars of damage in the process. Residents can review electrical and bandwidth in real-time and adjust usage through utility monitors. Lights, blinds, and even coffee pots can be set on timers through smartphones to suit individual needs. The only limits for smart devices are a clear reception and an imagination.